The Faculty Compensation Conundrum: Competitive Pay Practices in an Environment of Constrained Resources

 

While net professional collections across all physicians have remained virtually flat, clinical compensation among teaching physicians has steadily increased. Despite these increases, academic medical centers (AMCs) have not been able to keep up with compensation increases for community hospital providers and face significant recruiting challenges as a result. Additionally, academic organizations encounter serious financial sustainability concerns as they continue to find their resources stretched to subsidize their teaching and research mission. In this webinar, ECG experts will discuss the driving forces behind these trends and offer strategic and tactical approaches to help academic organizations cope.

At the end of this presentation, participants will be able to:

• Describe the physician compensation expense pressures and recruitment challenges faced by AMCs.
• Identify compensation approaches that balance market tensions against financial sustainability.
• List important considerations in incentivizing faculty for their contributions to patient care as well as their teaching and research activities.
• Distinguish best practices to acknowledge value in clinical compensation.
• Recognize opportunities to support market-level compensation for structurally underfunded departments.
• Explain compensation differences between faculty physicians and nonfaculty community physicians in the academic setting

 

Event Date: Thursday, March 12, 2020

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Category(s): Hospitals and Health Systems, Physician Groups / Providers

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